I contributed to a Roth IRA in 2023 for the years 2022 and 2023. I figured this year I am not eligible for Roth since I filed my taxes as MFS. After some research, I am considering a Roth recharacterization. I don't have any existing Traditional IRA account (no pre-tax money). So I think I don't have an issue with pro-rata calculation. As I understand, the gains on the money in taxable after recharacterization to traditional IRA (I will backdoor it as soon as recharacterization is done). My questions are:
- Do I report the gains in this year's tax filing since the recharacterization is happening this year?
- One I backdoor the money, my tradition IRA will be empty. Can I backdoor this year's contribution?
Thank you.
